Bunge Global (NYSE:BG) Releases FY24 Earnings Guidance

Bunge Global (NYSE:BG) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of approx $9.00 for the period, compared to the consensus EPS estimate of $9.33. Bunge Global also updated its FY 2024 guidance to 9.000-9.000 EPS.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Roth Mkm reduced their target price on Bunge Global from $161.00 to $138.00 and set a buy rating on the stock in a report on Monday, February 5th. BMO Capital Markets cut their price target on Bunge Global from $130.00 to $120.00 and set an outperform rating on the stock in a report on Thursday, February 8th. StockNews.com lowered Bunge Global from a buy rating to a hold rating in a report on Monday, February 26th. Wolfe Research lowered Bunge Global from an outperform rating to a peer perform rating in a report on Wednesday, January 10th. Finally, Robert W. Baird cut their price target on Bunge Global from $125.00 to $108.00 and set a neutral rating on the stock in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $120.44.

Bunge Global Price Performance

NYSE:BG opened at $109.62 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 2.13. The stock’s 50-day simple moving average is $98.69 and its 200 day simple moving average is $99.94. The company has a market cap of $15.46 billion, a P/E ratio of 7.36 and a beta of 0.64. Bunge Global has a 52-week low of $86.10 and a 52-week high of $116.59.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.89. The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.24 earnings per share. As a group, sell-side analysts forecast that Bunge Global will post 9.26 EPS for the current fiscal year.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.